2012-11-08
2012-11-16
x massachusetts

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as the chinese economy shows signs of improve. >>> and we'll head out to washington for a view on how the handover of power in china will impact relations in the u.s. >> we're in london to talk about shipping trends. >>> plus what will obama do about the looming fiscal cliff? we'll have plenty of analysis from commentators. >> and we'll hear first from the cfo of aliance. but first day two data suggested growth is picking up and inflation is moderating meaning beijing may have more scope to ease if necessary. ppi industrial output and retail sales all came in better than forecast. eunice joins us from beijing. i'd hate to suggest this is quite good timing for this data. very convenient. >> what are you suggesting? a lot of people are saying that the numbers are showing the economy is bottoming out and a lot of people do use the numbers as a guideline at least. they're saying the investment figures were encouraging. looking relatively strong. the government hasn't put up of much money in the infrastructure projects, so that's part of the equation here. other part is retail and consumpt

our economy and create jobs and the decisions we have to make in the coming weeks to help that come about. it is part of governing that these issues arise and we have to deal with them. >> this is a question on the fiscal cliff. you say he will not sign any bill that extends the bush cuts. it is highly unlikely that he would get a bill like that. how open is he to the notion that -- in terms of going forward? is he willing them out completely? >> i am giving you a pretty good printers on the president's thinking going into the process that he said it begins with the specific proposal he has before congress, a plan that achieves balance and that allows us to continue to invest in important areas of the economy. he has not been wedded to every detail of that plan. i will not negotiate hypothetical details. i was side speaker banner and say i am not in the position of boxing ourselves and others. he looks forward to the meeting with leaders in congress. and as clear principles fam belief that we can reach a compromise is comparable. it would allow us to address the fiscal cliff challen

funding for the pbs newshour has been provided by: ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> woodruff: for the first time in four years, president obama did not have to worry about re-election today. still, there was little time to savor tuesday's victory, in the face of a potential fiscal crisis at the end of the year. "newshour" correspondent kwame holman begins our coverage on this day after the election of 2012. >> reporter: mr. obama departed his hometown of chicago this afternoon for washington, his home for another four years. waiting for him: a still- divided congress now facing a critical lame duck session. the president made it clear in his victory speech last night that he thinks the country wants an end to gridlock. >> tonight, you voted for action, not politics as usual. ( applause ) you elected us to focus on your jobs,

.s. economy due to hit the fiscal cliff, trillion of tax increases and spending cuts, president obama called for a catch henceive deal and said he is not going to one on the top 2%. >> we cannot afford to extend the bush tax cuts for the wealthy. we can make sure that middle class taxes don't go up. if we get that in place we are removing half of the fiscal cliff. >> speaker john boehner offered what he considers a balanced approach generating the revenue from tax reform and entitlement reform. late today, boehner said the president's position is flawed. >> we are not going to hurt our economy an make job creation more difficult. which is exactly what that plan would do. >> letter sent by the u.s. chamber of commerce and signed by 232 organizations calls on the president and congress to immediately extend all the tax cuts and find other cuts to replace sequestration. the president suggested taking a closer look at reforming entitlements without offing details and says he would like to simplify the tax code. mr. obama says he wants congress to act now to extend tax cut for middle class and tr

with the story. the looming fiscal cliff, our economy hanging in the balance. moody's chief economist with us next. you see us, at the start of the day. on the company phone list that's a few names longer. you see us bank on busier highways. on once empty fields. everyday you see all the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand, grow stronger and get back to work. everyday you see all of us serving you, around the country, around the corne us bank. lou: let's bring you up-to-date correctly on the money and what is happening on wall street. concernssabout pending tax hikes and budget cuts also known as the fiscal cliff. too much for many investors. stock prices for a second straight session. the dow down another hundred and 20 points. the index down three and three-quarters percent. down 400 points. the s&p down another 70. the loss, now three and a half percent. and nasdaq 42 points. mounting to almost 4%. all three indexes trading under their 200 day moving average. volume, two or three quarter billion shares. negative.

the entire size of our economy. there will be many who will say that we should confront the first of these challenges by letting the tax rates expire and pushing the sequester off to some other day. there would have disengage in the same short-term temporary policies that has helped put us into this fix. let's have more of the same. let's agree to a drive our economy off part of the fiscal cliff instead of driving it off the whole fiscal cliff and we will call it a day. that might get us out of town but it will not get us out of the problem. and it will hurt our economy. we cannot keep going on like that. we cannot keep setting the bar that low. it is time that we raise the bar. the american people did not give us a mandate to do the simple thing. they elected us to lead. they gave us a mandate to work together to do the best for our country. we know what the best thing is, an agreement that sends the signal to our economy and to the world that after years of hunting on the fiscal challenges we face, -- punting the fiscal challenges we face, 2013 is going to be different. if we wa

what i said on friday. right now, our economy is still recovering from a very deep and damaging crisis. so our top priority has to be jobs and growth. we've got to build on the progress that we've made. because this nation succeeds when we've got a growing, thriving middle class. and that's the idea at the core of the plan that i talked about on the campaign trail over the last year, rewarding manufacturers and small businesses that create jobs here, not overseas, providing more americans the chance to earn skills that businesses are looking for right now. keeping this country at the forefront of research, technology, and clean energy, putting people back to work rebuilding roads, bridges and schools and reducing our deficit in a balanced and responsible way. on this last item, we face a very clear deadline. that requires us to make some big decisions on jobs, taxes, and deficits by the end of the year. both parties voted to set this deadline. and i believe that both parties can work together to make these decisions in a balanced and responsible way. to meet with labor and civic leader

contribute a little bit to helping our economy, and the majority of the people who are fortunate and made a lot of money, they're willing to do this. democrats, independents and republican support the direction of the president regarding this fiscal cliff issue. thanks, everybody. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] >> you just heard senate democrats speak about elections. the republicans will talk about their own election. main senator-elected angus king saying he'd caucus with the democrats. here's what he had to say. -- maine senator-elect angus king saying he'd caucus with the democrats. here's what he had to say. >> good morning. all set. today i'm announcing my decision as to which party, if any, i'll associate myself in my work here in the u.s. senate. before doing so, however, i'd like to outline my thinking on this issue and set out the principles that have guided my decision. in answering this, who will you caucus with question, repeatedly during the campaign -- and i emphasize the word repeatedly -- i

term will be how does he get some kind of bipartisan momentum going, particularly on the economy and this is your wheelhouse right now. you've got some pretty firm ideas about how to prevent the fiscal cliff becoming a reality. tell me about that. >> well, we need to avoid the fiscal cliff. as the nonpartisan congressional budget office said, it will reduce gdp by almost 3% and keep in mind it's only 2% now so that means going negative, going back to recession. they predicted that unemployment would go back over 9% which would be terrible, obviously, and many other negative consequences. so they should do at least a temporary extension so they can buy themselves a little time for the new congress to get organized and new administration to get settled, and then get this thing solved as quickly as possible after that. so with the financial services roundtable, we asked them to bridge over with some extensions but then tackle it. that's going to have to include the president stepping forward and willingness to reform entitlement programs and on the republican side, they'll need to l

important issue was. the economy was way up on top, almost 3/5ths of people said the economy was the number-one issue. the percentage who said that foreign policy was the most important issue was down in the single digits. that is not the driver. foreign policy is usually not the biggest driver. it is worth noting that those voters who said that foreign policy was the most important issue, president obama won that group. host: that made for about 5%. the economy, 59% put that as the most important issue. federal budget deficit, 15%. talk about how the health care law played into voters' attitudes? 18% said it was the most important issue. guest: that is an important thing. almost one in five voters said that health care was the most important issue. the president won roughly three- quarters of that vote. throughout the republican primaries, the issue of obamacare was a huge rallying cry. in 2010, the republicans won some big victories because of anger on the part of conservative voters about the president's health-care law. by the time you get to this election, you see this turnaround were

on the economy could be catastrophic. president obama delivers a big economic speech in about eight hours, and he wants tax cuts for the wealthy to extire. house speaker john boehner drawing this line in the sand. >> raising tax rates is unacceptable. and, frankly, it couldn't even pass the house. i'm not sure it can pass the senate. >> white house correspondent brianna keilar is live from washington, d.c. for us this morning. brianna, speaker boehner seemed to be offering the president on olive branch earlier this week when he talked about the possibility of increasing revenue. but here he's taking a hard stance against tax increases. what does that say about the chances of a compromise? >> well, it may actually sound kind of like it's splitting hairs. but it's really two different things where he's talking about increasing tax rates. he says he's not okay with that. but he would be maybe okay, maybe amenable to increasing revenue. to bringing in more tax dollars, because there is a difference. and what he's saying is part of a chorus of conciliatory language that we're hearing from democrats an

to do after yesterday. we'll talk more about the economy in a minute with david rosenburg. it was pretty clear yesterday that depending on how you wanted to spin it, could you say how do you do for another four years. i don't remember any euro news in the last six months no matter how bad it was, we didn't get it free handle. so there's more to it than just europe. >> it was the fiscal cliff, but also the financials got hit so hard. if it had been romney, the cliff would be less of a deal because they would stepped all of them. so now we know and we lettered it first hand yesterday. boehner said we're open to tax increase, but part of a bigger plan that involves spending cuts. dove did a bungee -- >> worst thing i ever did. >> but it goes down and then right back up. >> the worst part is you feel like you're connected on something, but don't. it's a free fall until the very he said and then he start to feel like i'm connected to something and it throws being back into the air. >> my question is let's say that it's not a bungee, let's say it's a rope. so you jump and then you -- that woul

to go over the fiscal cliff and see the economy gumbel before the majority of the people -- crumble before the majority of the people realize how much trouble we are in. i have end-stage renal failure and on medicare and receive disability each month. i do dialysis three times a week. that said, i will willingly and gladly take reduction in my benefits if it means we can reduce our deficit. i have two young nieces, and i'm looking out for their financial future. in fact, if i knew that taking away all of my benefits would get rid of our debt, i'd do that today. mr. president, hear tony's plea. don't take us over the fiscal cliff. tony and his nieces need you to lead. they need it now. i yield back. the speaker pro tempore: the gentleman yields back. the chair recognizes the gentleman from illinois, mr. gutierrez, for five minutes. mr. gutierrez: mr. speaker, i'm here today to make an introduction. i'd like the republican party to meet america's latinos. it's hard to meet us all at once. there are more than 53 million of us. but let me tell you a little bit about who we are and what

. if we want our economy to flourish and grow we must live up women's leadership. very important. women in the academic world, in health care, any subject you can name. is more successful, more efficient with the involvement of women. when women came to the polls last week, they registered their support for those who understood the challenges that women face. it is really a remarkable thing. under the leadership of the women standing here, the voices of america as mothers, daughters, and grandmothers will be heard. women are the bread winners for our families. in many cases, the small business owners in our communities. and the workers that will spur our prosperity. they're holding jobs of the office, creating jobs as entrepreneurs and owners. we keep our focus on women's rights and health, equal pay, choice, we also know that women are focused on the same issues all of us are -- the economy, jobs, the future of the middle- class and the national security of our country. they are concerned about fiscal soundness for america because they think about the future. as we move forward to deba

that's ever been reelected, and if his job really is to lower unemployment and raise the economy, if that's really what he wants, i don't think it is. i think he's a doctrine, big government, socialistic guy. but if he wants to help the economy, it's to cut government spending. balancing the budget doesn't matter if the budget is real high. >> he's taken -- he proposes to take money out of the private sector. $1.6 trillion, which kind of came out yesterday or the day before, blew everybody's mind. but how do you see this? stock market falling after the reelection. i know there are many factors in the stock market. but my question is this, t.j. from your vantage point out there and from your vantage point philosophically, what do you think the president wants to do? what do you think people reelected him to do? >> well, i'm not sure they reelected him to do anything. there's been a lot of blather about the obama mandate. the fact is it was an obama squeaker and if the republicans had put up a better candidate as ronald reagan got put up against jimmy carter, president obama would

's why we have these two guys to start today. i me, one of great at winners of the american economy, steve case, who not only has such an impact with aol, but now with revolution is funding and helping to develop a whole range of companies with a variety of industries. meanwhile, but in the washington area has gotten incredibly involved in trying to help the u.s. government think more intelligently about competitiveness and entrepreneurship in particular. josh linkner, a local store here who runs detroit venture partners as an sure many of you know, it's are from detroit you certainly know that, a supporter of this event which were very grateful for, and i think it's symbolic of incredible new energy that is developing in detroit and i should also say that josh created a company called, in 1999 here in detroit, operating all this time. two weeks ago it sold for a nice exit. here's a story of a company, a local copy that came from here, when all the way and he's an real well with the. even vested in a ton of other companies. so i just want to start asking you, steve, you know, when i

that are now griffin to various parts of -- given to various parts of our economy, for example, the oil and gas industry, and shift those tax breaks around so we would fund infrastructure project. in fact, that's what the president proposed to do. before i go further into how we might use the effort to build infrastructure, i want to just say that that infrastructure program is going to be absolutely essential to rebuild an extraordinarily important part of this nation. that is the east coast. new jersey, new york, connecticut and some parts of pennsylvania were devastated. there is going to be a multi-billion dollar rebuilding program necessary just to go back to where those parts of this country were before the storm hit. much more will be needed to protect those parts of this country from future storms that are certain to occur. i'll let it go at that. sigh my colleague from new york -- i see my colleague from new york city has arrived here and i'd like her to pick this issue up and talk about the devastation that occurred in her communities and then we can come back to the infrastructure .

, the small businesses. and so i think we need to do a better job at educating people on how the economy works. i mean, i'm learning stuff every day. i'm certainly not an economist, and i don't fully understand it at all, but, you know, there are small businesses that pay income taxes and, you know, if we go and we tax them as individuals, it's going to take money out of their business and, you know, they may have to lay people off. i mean, they may not be able to hire people. i mean, it's a huge -- the economy is very complex, but at the end of the day, like i said, you cannot -- i mean, you're going to run out of other people's money. host: according to this chart we have from the new york daily news and the tax policy center, the president is talking about ending subsidies for the oil industry in claims it would raise $40 billion. is this something that he party could live with? guest: i do not know. everything is on the table right now. like i said before, we have to find some common ground because we cannot continue down this road. so, you know, it is something that i have not seen that,

that what voters care for our jobs and the economy. immigration is either number two or number 3 on their list of things that they care about. it is much higher in places like arizona. it is the number two issue among hispanics. my sense has been that i do not think hispanics always want to be associated with immigration. it is difficult to separate the immigration conversation from them because it is so integral to their lives. 60% of hispanic voters know somebody personally that is undocumented and they could be dating that person or it could be there brother or father. i have talked to people about this. hispanic advocates tell me that it is hard to separate immigration from them. that could change if there is a revolution. they are the driving force behind it. host: a couple of facts from the pew center. people ages 98-29, the youth -- people ages 18-29 make up about a third of all eligible hispanic voters. guest: this is an issue that is closer to their hearts. host: the projected population growth among the latino community. made up of about 17% of the population in 2011. i

, and more could be on our way out. shannon green with the story. the looming fiscal cliff, our economy hanging in the balance. rachel quit the corporate grind to start her own interior design business. she's got a growing list of clients she keeps in touch with using e-ma marketing from constantcontact.com. constantcontact is easy and affordable. it lets her send out updates and photos that showcase her expertise and inspire her customers for only $15 a month. [ dog barking ] her dream -- to be the area's hottest interior design office. [ children laughing ] right now, she just dreams of an fice. get a free trial at constantcontact.com. lou: let's bring you upto-date correctly on the money and what is happening on wall street. concernssabout pending tax hikes and budget cuts also known as the fiscal cliff. too much for many investors. stock prices for a second straight session. the dow down another hundred and 20 points. the index down three and three-quarters percent. down 400 points. the s&p down another 70. the loss, now three and a half percent. and nasdaq 42 points. mounting t

in the campaign it laid out his economic plan for how to build an economy, strengthen the economy. that is obviously a central focus of not just the next few weeks, but the next four years. part of that is to reduce the deficit in a balanced way. obviously we have some deadlines approaching. one of the messages sent by the american people throughout the campaign, as jim misener mentioned, clearly shows the president's view of making sure that the wealthiest americans are asked to do a little bit more in the context of reducing our deficit in a balanced way. it is clear that the voters did not see compromise as a dirty word. it is essential for democracy. balance is another important component. hopefully in the aftermath of the election our leaders in both parties and around the country will do the right thing here to help move our economy forward. as the president often said during the campaign, we've got a lot more work to do, but we have made progress, and we have to build on that. this is one component of how we do that, moving forward. >> always curious, did you ever think mic

.s. economy, fewer jobs, less investment, and lower wages. back to you, guys. rick: liz macdonald. you hear talking points from both sides. we want to try to get down and drill to the facts. you have the president drawing a new line in the sand according to a lot of headlines this morning with plans to open up friday's fiscal cliff negotiations with absolutely no concessions on the table and far more in new taxes than republicans have said they're willing to even consider. so we have some breaking news. we'll get to that in a minute. jenna. jenna: i guess we'll go down live to d.c. now. we're waiting a press conference. there is senator mccain, ayotte and graham talking about the future of the benghazi investigation. let's take a listen. >> establish such a select committee and we will urge the senate leadership to act on it as soon as possible. while we await the findings and recommendations of the administration's internal review of the benghazi attack, it is essential for the congress to conduct its own independent assessment. let me be clear. there is no credibility amongst most of us c

of our economy. there will be many who will say with the election over, we should confront the first challenges by electing the top two tax rates expire and pushing it off to somewhere else. they have lessing based in the same temporary policies that have put this into this fix. now they are saying, let's have more of the same. let's to drive our economy of the fiscal cliff and we will call it a day. that might get us out of town but it will not get us out of the problem and it will hurt our economy. we cannot keep going on like that, we cannot set the bar that low. it is time we raise the bar. the american people this week did give us a mandate to simply do the simple thing -- they elected us to lead. they gave us a mandate to work together to do the best for our country. we know what the best thing is, an agreement that sends the signal to our economy and to the world that after years of hunting on the fiscal challenges we face, -- punting the fiscal challenges we face, 2013 is going to be different. if we want to lift the cloud of debt hanging over our country. we will not solve t

economy energy eyes jiesed by simpler tax codes with fewer loopholes and lower rates for all? so his increaseded revenue is lower rates or dynamic scoring, i don't know. but i think he was able to pivot on his spin but in terms of the substance i don't think he's moved. >> i'm glad that you read his words because i do think that is what the republicans mean by revenue. the theory -- and it's a theory and there are detrack tors of this theory and supporters of the theory which is if you have lower tax rates, there will be more economic growth and activity which will in turn result in additional tax revenue into the u.s. treasury. and again, it really comes down to whether you buy into that theory. the republicans hold that theory and believe in it. the other side of the aisle doesn't believe in that theory to the same degree that the republicans do. so it almost comes down to what stan said is do you have steal mate over the i'd olingses and i think we all know that with the senate becoming a bit more liberal and the house becoming a bit more conservative that those are going to clash

for our economy and for our place in the world, either bilateral agreements, multilateral commitments, you were always there to make sure that we moved forward in that and i really thank you and i do rise in support today of this rule and h.r. 6156, to grant permanent normal trade relations to russia. . this important legislation is a small step towards a big reward. without it the united states exporters and service providers will continue to lose business to our foreign competitors that have already have trade relations -- relationships with russia. and once we lose those markets, our competitors will only become stronger and better positioned to surpass the u.s. in a critical marketplace of the 21st century global economy. according to the national association of manufacturers, russia imported over $500 billion in goods last year, and of that total only 5% came from u.s. exports. this bill will lift outdated policies and restrict american access to russian markets. as a result studies show u.s. producers can expect to achieve double-digit increases over the next decade in exports of hea

predict that going over the fiscal cliff is going to wreak havoc on the economy. it's called the fiscal cliff. it's described in the suicidal terms. it is apocalyptic. it is armageddon, the end of everything we hold dear. today, the horror was amplified by a new congressional budget office report that said that if we did go over the fiscal cliff we're going to head back into recession, the unemployment rate would spike to over 9%. terrible picture! but dear junkies, take a deep breath. because it ain't gonna happen. mark my words. the one thing that congress loathes more than losing elections is getting their rear ends handed to them by every newspaper, businessperson and senior citizen clinging to an i.r.a. they cannot handle the heat of doing nothing. so believe me, they will act. i predict that they're going to extend the deadline until after the new congress arrives to give them time to work out a deal. it's going to be all over in a couple of months and it is going to be a fair and balanced solution. an

into the economy -- did not sell much creating jobs -- i am focused on trading business for the small people -- the people trying to become middle- class. there would have been more going around it. everybody has ideas. the thing we need to focus on is seriously alternative fuels. with alternative it feels, -- alternative fuels, other people can have a chance to put their idea not so much in big oil -- everybody gets a piece of the pie. host: on your comments about how much money was spent. here is "usa today." on the issue of whether or not the big wealthy donors cut their money's worth. go ahead shirley. caller: the people in this country are so tired of the fighting in the washington. like the one candidate said, if they do not do their jobs, they do not get paid. we, the people, have to start taking these matters into hands. we are sick of it. what i would like to tell john boehner is, do not cave in to the craziness. this is nothing but craziness. i watched harry reid yesterday. he talked and talked and really said nothing. i thought to myself, all you do is dance around these bills tha

a deal is because of the economy. if we get tangled up here in d.c. and go over the cliff or down the gradual slope, it's not -- it's not going to be good for the economy. there are people waiting to invest. there's a world watching. everybody agrees that if a deal can be cut, economies around the world, not just in america, are going to benefit. >> yeah. i think the consequences aren't immediate if we get to january 1st, but i'll get into that later. i have a monologue -- >> psychologically they're immediate. >> let me ask you about within the democratic party, then. if the white house's priority is to get a deal, and the bottom line for house republicans is no rate hikes, if the white house were pursue this tax reform without rate hike framework and include in that the entitlement issue with medicare and social security and maybe medicare, that was floated a little bit last year. if that's the kind of package the white house can negotiate with republicans, is there a concern within the democratic party of a revolt against that deal with democrats? >> i think so. i think the pres

, a sluggish economy, and powerful pro romney superpacs. now comes the hard part for the president, getting past what some call that second term curse. joined by "washington post" editor, pulitzer prize winner david marinis. good afternoon to you, sir. >> great to be with you, craig. >> you write in some detail about precisely how the president spent election day and election night. we know he played basketball. we just heard a few moments ago from one of the guys he played with. >> that's right. >> how confident was the president when the tallies started to come in? >> well, he was very confident in his staff, was remarkable. and they were telling him that everything was solid. so there is always a minor, you know, fear in the back of your head. but he knew he was going to win. >> one of the criticisms of the president's campaign at least was that it lacked details of his goals and how he planned to achieve them. did the voters wednesday morning actually come away knowing the president's agenda for a second term, the you think? >> well, he described three major things that he wants to do.

the economy growing and get the jobs being created and that means more revenue -- >> let me ask you, i want to ask you directly. would you accept the piece-meal, let's just pass the tax -- extension of the bush tax cuts for the 98% of people under 250? >> it doesn't make any sense to us to raise taxes on job creators at this time of economic challenge. the equation is revenue, and spending. and, we can increase revenue without increasing the tax rates on anybody in this country, we can lower the rates, broaden the base, close the loopholes, as you have discussed. and put in place pro-growth policies in energy and health care and the regulatory policy and address the spending. and the spending that has to be addressed is, medicare, medicaid and social security. >> chris: just so i can clear this up, you are not -- boehner seemed to be saying, i am going to close some of the loopholes and use some of the revenue, use some of the revenue from closing loopholes to cut the deficit. are you accepting that or not. >> i think that is the way we can reach agreement and i think what many of us are sa

. and with the economy still limping back to health, the stakes could not be higher. president obama, a winner this afternoon, heading back to washington where voters decided he should stay for four more years. at his campaign headquarters in chicago this afternoon, mr. obama thanked staff and supporters. this, after a night of emotional celebration in his hometown of chicago, 20,000 turned out, shedding tears and sharing hugs. >> a long campaign is now over. and whether i earned your vote or not, i have listened to you. i have learned from you. and you have made me a better president. michelle, i have never loved you more. >> reporter: mixed with a little bit of humor aimed at his daughters. >> i am so proud of you guys, but i will say for now, one dog is enough. >> reporter: the president held almost 2,000 campaign events, logging miles on air force one, the candidates spending the most money in history. it is a victory at times seeming impossible, given the anemic economy, and sharply divided electorate. >> this disruptive debate here on capitol hill. >> reporter: mr. obama seemed to recogn

or cared about the economy, but when it comes to legitimate rape and abortion, women stood together. >> i wish that's all it was, really, but the whole year, particularly when republicans took over so many state legislators, that's when the war on women, if you forgive me, began. you had record numbers of anti-contraceptive and and antiabortion laws, even a tax on equal pay laws, the congress with the blunt amendment on where they actually had a vote on whether or not insurance policies ought to include contraception if theoss is in disagreement. so you can talk messenger all you want to or two members who clearly revealed the rubbish in the republican party, but, let's face it, women had a whole year, and then they had the republican primary to see it big and bold -- all anti-woman, personhood -- all the things the majority of the women are clearly not for. >> okay, but let me ask you this -- >> sure. >> -- in the reformation to havo have -- of the republican party, is that going to be dropped? >> the reform? >> are the social issues going to go the way that this election said they shoul

the economy strong and not shredding our nation pose a safety net. in fact, we will do it in a way where we make the key investments we need to make to grow the economy in a fair way. working together, we will invest in our small businesses and infrastructure to strengthen the middle class and create jobs. you know, there are entrepreneurs and small businesses that are the engine of growth in the nation and we have to do more to promote those true job-creators. working together. [cheers and applause] working together, we have got to win the global race. that means we have got to continue making those critical investments from early childhood to higher education to work force training to keep our nation positions ahead of all of our global competitors. but most of all, most of all, working together, we will remind virginians and all americans that our institutions of government can actually function again, that our leaders can set aside partisan politics and rise to the challenges that affect our nation. we know that as a commonwealth and as a country, we have been through tough times. we kn

to the national debt which is on path to hit more next month. it will push the u.s. economy back into recession. >> speaking of the fiscal cliff you have broken it down according to the state. >> this is interesting. the fiscal cliff will assess all of us. but some more than others and geography has a lot to do with it. the tax foundation has estimated the potential impact of a median family of two kids takes into account three tax hikes. the first one would be the expiration of all of the busheir raw obama tax cuts expiration of the two percent payroll taxes and not passing the amt. the states who's taxes drive residents as much as 7,000 dollars in some cases. new jersey, maryland, connecticut and massachusetts as you can see there and a bill of 3,000 dollars washington, hawaii, colorado, kansas. >> the northeast getting hit very hard. >> is this why many people are trying to make adjustments when it comes to the travel for the holidays. >> travel spending is down. we should think about the traffic. that's not down. before the tushg key the indigestion. 30 million of us plan to drive to our th

inject a lot of money inside the economy very fast. there's a lot of people that's got money that's invested, can't take money out, that can use the money for other things, for buying extra properties, getting the economy simulated that way. i just feel that if they let you take your own money that you saved and worked hard for and let you pull it out without being taxed to death, that would actually help the middle class more than cutting taxes on the other end. and i don't know what the other people that's in my situation feel that way, but i think somebody should say, ok, 401-k's, you got three years to take this much out, this was the limit, and we're going to tax you this much if you do not take advantage of this and we go back to the way it was. host: thanks. johnny in texas makes under $250,000 a year. johnny, you're on the "washington journal." caller: yes, die make under $250,000 a year, and i think the bush tax cuts ought to be suspended. host: do you think that the election gives the president a mandate on taxing the rich? caller: i definitely do. it's a mandate, becaus

in greece over budget cuts and word that europe's strongest economy germany is in trouble. but quickly investors turned back to our looming problem, the road we are on to the so-called fiscal cliff at the end of the year. $650 billion of combined spending cuts and tax cuts expiring automatically. wall street selloff led to a loss of $300 billion in market value wednesday alone. however, just after close of trading wednesday, greece did pass its austerity measures so markets should be tempered a bit. when it comes to the future we can't expect uncertainty as the fiscal cliff looms ahead. >> coming up, advice on sorting out some of the hottest new options in tablets and touch screen computers. >> would you believe tab tops, >>> and welcome back to "world news now." we are pleased to have with us tech editor joanna stern. joanna will tell us about five crazy computers that run microsoft's new windows 8. crazy in a good way. >> crazien a great way. i am telling you they're crazy. >> not like us in a crazy way. >> not mentally insane. >> what are we starting with? >> windows 8 for tablets,

were people who were still dissatisfied with the economy, with obama's performance, but they were not sold on romney saying that was the undecided voter. well, a week later, those people were saying they were for romney, and undecided were people who used to be for obama, but they didn't like his performance in the debate so they were undecided. it's a myth of saying who was undecided. i think we're going to analyze it, analyze it as persuadable voters. that's who it is, is not in the core of either party to be persuaded. the way we, as reporters, analyze undecided voters is ridiculous. number four, independents are no longer the swing group. i mean, look, romney won independents. in ski battleground states, carried the independent vote and lost. indidn'ts, the way they -- independents, the way they define themselves now in the era of strong partisanship lean slightly republican. if they split even or if democrats win it, it's a very good year for democrats. it's the mirror image of moderates. mote rads lean democratic, but they are a key swing vote. to me, look at those who call

can give our country a stronger, healthier economy. a stronger economy means more revenue, which is what the president seeks. >> this isn't something that i'm going to draw the lines in the sand, he's not going to draw any lines in the sand, i don't believe, and i think we need to work together. >> the president will also have to contend with a major staff shake up. secretary of state hillary clinton and treasury secretary tim geithner have both said they're ready to move on, and there are also indications that mary schapiro will follow suit as well. dan lothian is following all these developments. good morning, dan. >> reporter: good morning. that's the game, i guess, that's played every time you have transition, every four years or so, inside washington. you start talking about what names will be replacing those who will be leaving. nothing official from the white house on this kind of movement, but one of the names that's been thrown around, senator john kerry, who helped the president prepare for the debates, has been talked about possibly going to state. there are other name

. they are talking about jobs, improving the economy. if they are willing to save medicare and social security are going to stay, they can get african-american votes. to write them off as arthur davis suggested i think would be a colossal mistake. host: we will get to your calls in just a moment. you can also send us a comment on facebook or twitter. what surprised you about the election? guest: was surprised me was the breadth and the depth of president obama's victory. in this split america with 5% of people independent voters, i think it was a very decisive victory. if you look at all of the stories we were reflecting before hand, this will take months to figure out, this will go to the house of representatives. baloney. president obama won the electoral vote 332-2 06. that is pretty solid. he won the popular vote by about 3 million votes, which is decisive. he won eight out of nine of the battleground states were all told were so close they could easily go to mitt romney. he did not lose in north carolina by much. host: were the polls wrong? guest: from my perspective there was too much at

it be that the fortune 500 there are fewer than 20 ceos. if we want our economy to flourish and grow we must lift up women leadership in our economy. very important. women in the academic world. women and health care. any subject you could name is more wholesome more successful more efficient with the involvement of women. when women came to the polls last week they registered their support for those who understood the challenges that women face. it is really a remarkable thing. under the leadership of the women standing hear the voices of america's mothers daughters and grandmothers will be heard. women are the bread winners for our families in many cases. the small business owners and our communities. isn't that right. the workers that will spur our prosperity. they are holding jobs but they are also creating jobs as entrepreneurs and owners. we keep our focus on women's rights and health equal pay enjoys. we also know that women are focused on the same issues all of us are the economy, jobs, the future of the middle class and the economy of our country. they are concerned about fiscal soundness f

and on current tv. >>oh really? >>"if you ever raise taxes on >>the rich, you're going to destroy our economy." not true! >>i jump out of my skin at people when i'm upset. do you share the sense of outrage that they're doing this, this corruption based on corruption based on corruption. >>i think that's an understatement, eliot. u>> i'm not prone tot. understatement, so explain to me why that is. i think the mob learned from wall st., not vice versa. >> chatting with you live at current.com/billpress, this is the "bill press show". live on your radio and current tv. >> bill: 25 minutes after the hour. one nice thing about this election, maybe we'll never see dick morris again on fox news. do you think maybe? >> i think he's going to get a raise on fox news. you think now they're going to care about people getting it right? they'll have him back. they already had him back yesterday. >> bill: really? he's such a clown. media matters for america put out all of the different predictions. his flat-out predictions that he made in this election cycle

care of the middle class and have the richest of the rich contributed little bit to helping our economy and the majority of the people who are fortunate and made a lot of money are willing to do this. democrats, independents and republicans support the direction of the president regarding this fiscal cliff issue. thanks, everybody. [inaudible conversations] [inaudible conversations] >> well, good afternoon, everyone. welcome back. the american people have spoken. a week ago they decided in many ways to continue the status quo with divided government. we have a lot of his challenges confronting us here at the end of the cycle, but i would remind everyone that divided government sometimes has some very important things for the country. and of ronald reagan and tip o'neill reforming social security. ronald reagan and tip oatmeal during the last comprehensive tax reform. bill clinton and republican congress with welfare reform and balanced in the budget. so we look forward to making this divided government productive for the american people and the several wellness we have a lot of challeng

when you deal with entitlements you don't do anything that deals with the economy in the short term. $27 trillion problem which exists is medicare. that is where the focus needs to be. we can get to the appropriate revenue mix if we do that. >> senator you are in the -- you are a lame duck in the lame-duck session as your final act before you leave office is there a basis for a deal here? >> i absolutely believe there is. you can't settle every detail in these next few weeks. what you can do is agree on a framework agreement that sets out for the committees of jurisdiction how much they need to save, how much money needs to be raised, what we can also do is have a significant down payment so the markets understand what we can also do is have a back step so the committees of jurisdiction did not perform there would be a real consequence. >> the fiscal cliff that's what happens here. >> the difference is the fiscal cliff was designed not to happen. that is the sec quest tore across the board cuts 1.2 trillion was designed to be so own russ nobody would accept it. we need to have a bac

this economy working for the vast majority of americans and how to get people back to work. we ought to be having that debate and they've got to push hard simply to get on the agenda. >> it's amazing a great point and shows why the president is not remotely progressive. he's having the debate totally on republican grounds as if they won. no no, no! we won! we won! we should be talking about jobs, increasing taxes. i'm not entered in $3 trillion in spending cuts. the republicans want that, good luck to you. you're right, you got to fight super hard, otherwise you'll lose on social security and tax cuts for the rich. 80% of that grand bargain is devastatingly bad for progressives and the middle class. we appreciate you joining us, bob. >> my pleasure. >> all right. now, when we come back, you know there's more drama with the generals right? now we have the other other woman. >> the widening scandal has now turned its focus squarely toward jill kelly who may play a part in bringing down petraeus, allen and now an f.b.i. agent she knew. >> you know the real problem? jill kelley getting t

returns back to the white house. and with the economy limping back to health, the stakes could not be higher. the president headed back to washington where the voters decided he should stay for four more years. at his campaign headquarters in washington, he thanked staff and supporters. this, after a night of emotional celebration in his hometown of chicago. 20,000 turned out, sharing tears and hugs. >> a long campaign is now over. and whether i earned your vote or not, i have listened to you. i have learned from you. and you have made me a better president. >> reporter: a passionate speech. >> michelle, i have never loved you more. >> reporter: mixed with a little bit of humor, aimed at his daughters. >> i am so proud of you guys, but i will say that for now, one dog is probably enough. >> reporter: the president has held almost 200 campaign events, logging thousands of miles on board air force one, the two candidates spending nearly $900 million, making this the most expensive campaign in history. it is the victory that at times seemed impossible. and sharply divided electora

business." $6 billion invested in this economy. did we see a boost in the sluggish economy? guest: christmas in september for the television stations in some of battleground states. stations were cutting back on programming so they could fit in all the advertising. we have tried to get a handle on the tv ads and have created a database which pulls in the advertising that is not registered at the federal communications commission. it is the top 50 markets. we are trying to pull that together and have asked volunteers to go to some of the uncovered markets and help us collect the other advertising. there are these concentrated pockets of spending in these communities. the television stations are telling us it is difficult to make these filings and put this in an electronic format. hire an extra clerk or two if you're making so much extra money. host: is this estimate correct -- about a million commercials? guest: as far as i know, yes. it certainly shows like at least a million. host: matt on the republican line. you are on with kathy kiely. caller: i have good news for the democrat

? >> we're in a bad economy. we're in a bad economy. no one is going to dispute that. >> bill: it's bad but it's not. you know, nothing that would warrant this kind of a -- 47 million people? what's going on? >> people need help, bill. people clearly need help. yes, obama could have done better with the economy. that's what happens in situations like this. but i don't think think that's the deciding factor why single women voted for obama. >> bill: you are right. it could be abortion. bernie goldberg on the david petraeus story and how it's being covered. then adam corolla outraged by the election of elizabeth warren to the senate but why? adam carolla straight ahead. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher

's an exploding entitlement. 00,000. the ununemployment rate going down there. >> we're in a bad economy. >> nothing warranting this. >> 47 million people? what is going on. >> people need help. and yes. obama could have done better with the economy. that is what happens in situations like this. i don't think that that is the factor and why single women voted for obama. >> thank you very much. we come back, bernie goldberg on the david petraeus story. and gold bern, core rolea, straight ahead. i was having trouble getting out of bed in the morning because my back hurt so bad. the sleep number bed conforms to you. i wake up in the morning with no back pain. i can adjust it if i need to...if my back's a little more sore. and by the time i get up in the morning, i feel great! if you have back pain, toss and turn at night or wake up tired with no energy, the sleep number bed could be your solution. the sleep number bed's secret is it's air chambers which provide ideal support and put you in control of the firmness. and the bed is perfect for couples because each side adjusts independently to

ceos and business leaders talking about challenges with the global economy and one of the topics of conversation is likely to be news we are just now getting out of washington. the obama administration signaling that it is expanding the multi-year crackdown on bribes paid by u.s. companies to foreign officials under the foreign corrupt practices act and the administration out with new guidelines, 120 pages. the act that's been in place since the carter administration is too vague and putting u.s. companies at a competitive disadvantage. so now the department of justice and the securities exchange commission out with 120 pages of guidelines talking about what is a bribe, who is a foreign official. we've put all of these guidelines on our website. cnbc.com. you can read more about it. this is again something that business leaders have been clamoring for but they want changes in the law. we'll see if the guidelines are enough to ease their concerns. back to you. >> thank you very much, scott. let's get to it then. the clock is ticking in d.c. today on the fiscal cliff. 1:30 obama wi

. it is what it is. if we do not avert it, it will cause a short-term bump to the economy and the question is not whether or not we do it, but how long it lasts. at the sequestration is more damaging than the tax increase, that can be undone. sequestration is a terrible idea and can be very disruptive. if we go into sequestration, that's awful. if the taxes read up on everybody for a month or two, it would be a temporary bump comes falling down the expansion, which is coming, but you can undo it. >> i want to talk about dodd-frank and wall street with washington in particular the white house. when you look at the response in the way wall street has approached dodd-frank with the lobbying efforts against it and really the aggressive nature wall street took more broadly terse president obama, how do you explain it when it did about it, when you talk to people? >> we seriously hurt their feelings. last night and serious about it. when you look at the damage done, people ranting about marginal tax increases, which they would not even know happened unless they were particularly attentive to wha

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